kexim-prices-sfr500-million-threeyear-bond

Kexim prices SFr500 million three-year bond

Korea's Export-Import Bank taps wealth management demand for record Swiss franc bond deal.

Export-Import Bank of Korea Kexim launched and priced a SFr500 million $483 million three-year bond on October 1, showing it is still one of the most nimble and opportunistic borrowers in the region.

This is the largest Swiss franc deal ever by an Asian issuer and double the amount raised by the Asian Development Bank in April. It is also the biggest non-US dollar bond transaction out of Asia so far this year.

The state-owned trade policy bank, assigned the sovereign rating of single-A and A2 by Standard Poor's and Moody's Investor Services respectively, re-offered the bonds at 99.934 to yield 2.523% to a maturity date of October 10, 2012. They pay a coupon...

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